How do we choose our panel of insurance companies and products?

Claims service –

after all what’s the point of an insurance policy if it doesn’t work at the time of a claim? We take the claims support we receive from insurance companies very seriously and this is one of the key factors in deciding whether we wish to continue working with a particular provider or not. This is what keeps them committed to satisfying us in every single claim – and we manage thousands of claims annually! Learn more here.

Pricing strategy – we understand that we must obtain the best value for our customers and hence we constantly and pro-actively negotiate scheme terms that bring you the best deals in the market. If a particular insurer is expensive, they would automatically become disqualified as our strategies are not aligned. Learn more about our commitment to price competitiveness here.

Food for thought: we don’t expect the insurers to make losses from the portfolios of business we give them. They never do. Our unique risk screening and risk profiling mechanisms have allowed us to obtain the kind of business that the insurers want and hence our marketing efforts are also directed accordingly. We truly believe in creating a win-win situation for all – you get the best deals and the insurers get the kind of business they want!

High-level people relationships – companies don’t do business – people do. Our MD has been in the Dubai insurance industry since 1980 in the capacity of an insurance broking director. He hence knows who are the right people to work with and who would truly support our clients and us at the time of an unusual or largeclaim (catastrophic claims cost insurers millions and they sometimes naturally try to find ways not to pay out). In a market so intensely driven by relationships, this is one of our core value-add that all our clients, no matter how small or large, benefit from. Knowing who is running a particular company for us is also a very significant factor in deciding whether we would be working with them or not.

Let’s put this right out there just in case you are thinking about it – here is what is definitely not a factor in deciding whom we work with: higher commissions! We have explained here that we pay our rent by being paid by the insurers. But this should not lead to the assumption that we would push the products that give us more money. After all, we pride ourselves on being unbiased and independent and this is why we will always give you at least three quotes (and usually five) and then it’s completely up to you to decide! Our team understands that any kind of commission-driven sales is simply misselling and is just not allowed.

Moreover, as explained here, our personal shoppers do not have any commission shares of any sort, so they really do not have any incentive whatsoever to sell you something over another for some extra cash!Also, paying us more would mean that the price competitiveness of a product decreases and since it’d be more expensive it would automatically sell less. As a result, free market economics will never allow us to go against our core principle of being independent and unbiased.

Anyway, an extra percentage here or there means little in terms of the grand scheme of things and our overall strategy to deliver outstanding insurance service with an unbeatable commitment to claims mediation.